Perpetual inventory using LFO Beginning inventory, purchases, and sales data for DVD players are as follows: The business maintains a perpetual imventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit cost column. Iro Method Dvo Players Cost of Cost of Quantity Purchases Purchases Quantity Goods Sold Goods Sold Inventory Purchased Unit cost Total Cost Sold Unit Cost Total Cost Quantity Date Nov. 1 Nov, 10 Nov. 15 Nov. 20 Nov. 24 Nov. 30 Nov, 30 Balances Inventory Inventory Unit Cost rotal Cost Exhibit 4 Entries and Porpotual Inventory Acoount (LIFO)